Scottish angels investing more while UK levels dip

FUNDING from business angels slid by 25 per cent throughout the UK as a whole last year, according to figures released yesterday.

It means Scotland bucked the trend, as recent data from business angel group Linc showed that funding north of the Border edged up by 0.4 per cent.

Yesterday's report - compiled by Colin Mason, professor of entrepreneurship at Strathclyde University, and Professor Richard Harrison, director of the Queen's University Management School - for the Department for Business showed the UK market was worth 266.5 million in 2009-10, with Scotland accounting for about 51.2m.

Business angels are wealthy individuals who invest money in early-stage companies, often through syndicates.

David Grahame, chief executive of Linc, said: "This report shows Scotland's business angel network is continuing to punch above its weight. Our members' focus is on the long-term future of these firms."